What Now?

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It was a great party. But after Britain’s glorious summer of sport and
celebration it is back to work and, for the Government, back to the
challenge of tackling the longest economic downturn in living memory.

It was not supposed to be this way. At the time of the election in 2010, most
economists were expecting the economy to be enjoying a good recovery by now.
Instead, the recovery stalled and the economy is still showing only faint
signs of life. Output remains 4 per cent below its peak in 2007, making this
slump longer than any of the recessions